What is the good news?

But when the kindness and love of God our Savior appeared, He saved us through the washing of rebirth and renewal by the Holy Spirit, whom he poured out on us generously through Jesus Christ our Savior, so that, having been justified by his grace, we might become heirs having the hope of eternal life, not because of righteous things we had done, but because of his mercy. -- Titus 3:4-7